Business
Green Battery Minerals Increases Size of its Non-Brokered Private Placement
(TheNewswire) VANCOUVER, B.C. - TheNewswire - November 16, 2021 - Gre...
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"Green Battery Minerals Increases Size of its Non-Brokered Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n VANCOUVER, B.C. -\n \n \n TheNewswire - November 16, 2021\n-\n \n \n Green Battery Minerals Inc.\n(“Green Battery” or the “Company”) (TSXV:GEM\n \n \n )\n \n \n (\n \n \n FSE:BK2P\n \n \n )\n \n \n (\n \n \n WKN:A2QENP\n \n \n )\n \n \n (\n \n \n OTC:GBMIF)\n \n \n is pleased to announce that it has increased the size of its\npreviously announced financing described in its news release of\nNovember 9, 2021. The Company previously disclosed that it would issue\nup to 3,500,000 flow-through units (the “\n \n \n FL Units\n \n \n ”) at a\nprice of $\n \n \n \n \n 0.15\nper FL Unit, for gross proceeds of $525,000.  Due to increased\ndemand, the Company today announces that it has increased the number\nof FL Units to be issued, such that it will issue up to 13,500,000 FL\nUnits for gross proceeds of up to $2,025,000 (the “\n \n \n Offering\n \n \n ”).\n \n \n \n \n Each FL Unit will consist of one common share in the\ncapital of the Company that is issued on a flow-through basis in\naccordance with the\n \n \n Income\nTax Act\n \n \n (Canada) (each, a “\n \n \n FL Share\n \n \n ”) and one\nhalf of one share purchase warrant (each whole warrant, a\n“\n \n \n Warrant\n \n \n ”), with each Warrant entitling the holder thereof to\npurchase one (non-flow-through) common share in the capital of the\nCompany (each, a “\n \n \n Warrant\nShare\n \n \n ”) at a price of $0.20 per Warrant Share\nfor a period of twenty four months following issuance.\n \n \n \n \n The proceeds from the Offering are expected to be used\nfor Canadian exploration expenses and will qualify as flow-through\nmining expenditures, as defined in Subsection 127(9) of the\n \n \n Income Tax Act\n \n \n (Canada), which will be renounced to the subscribers with an\neffective date no later than December 31, 2021, to the initial\npurchasers of the FL Units in an aggregate amount not less than the\ngross proceeds raised from the issue of the flow-through shares, as\napplicable, and, if the qualifying expenditures are reduced by the\nCanada Revenue Agency, the Company will indemnify each subscriber for\nany additional taxes payable by such subscriber as...